Coinone Brings in OKX as New Shareholder

Global digital asset exchange OKX has become a shareholder in South Korea’s Coinone, with its venture arm OKX Ventures acquiring a 20% equity stake. The transaction makes OKX a joint third-largest shareholder in the Korean exchange.

The strategic partnership stems from shared technology-focused management philosophies between the CEOs. Coinone founder Cha Myung-hoon is a former white-hat hacker with a computer science degree from Pohang University of Science and Technology. OKX CEO Star Xu holds a master’s in physics from Renmin University of China and previously served as an engineer and CTO at Yahoo Beijing.

Star Xu noted that Coinone’s security-first DNA, rooted in Cha’s background, aligns with OKX’s engineering-driven ethos. Both companies also emphasized compliance with South Korean regulations. Xu stated that OKX will respect Korean laws and develop business within that framework alongside Coinone.

Coinone plans to integrate OKX’s global trading infrastructure, including its matching engine, blockchain wallets, and custody systems. Xu highlighted that OKX’s matching engine handled 1.1 million orders per second during last October’s Bitcoin crash without downtime. Applying this technology to Coinone is expected to improve trading stability during volatile periods.

Coinone also aims to prepare for potential growth in the corporate investor market in South Korea. Cha said the exchange will work with OKX to build custody infrastructure meeting global standards, anticipating increased demand if regulations allow corporate digital asset investment.

OKX operates licensed platforms in over 27 countries, including the UAE and Singapore, and has published proof-of-reserves for 41 consecutive months. Earlier this year, it received a $200 million strategic investment from Intercontinental Exchange, parent of the New York Stock Exchange.